Today: The Headwaters Inc. (HW) Sees Large Drop in Short Interest

The Headwaters Inc. (HW) Sees Large Drop in Short Interest

Headwaters Inc. (NYSE:HW) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 1,780,166 shares, a drop of 35.3% from the August 31st total of 2,752,214 shares. Based on an average daily trading volume, of 843,252 shares, the short-interest ratio is currently 2.1 days. Approximately 2.5% of the company’s stock are sold short.

Shares of Headwaters (NYSE:HW) opened at 16.61 on Friday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 7.86 and a beta of 1.53. The company has a 50 day moving average price of $17.43 and a 200 day moving average price of $18.62. Headwaters has a one year low of $13.62 and a one year high of $21.25.

Headwaters (NYSE:HW) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.08. The company earned $262.50 million during the quarter, compared to the consensus estimate of $276.83 million. Headwaters had a net margin of 16.60% and a return on equity of 34.50%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. Equities analysts predict that Headwaters will post $1.14 EPS for the current year.

In related news, Director R Sam Christensen acquired 5,706 shares of Headwaters stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average price of $19.05 per share, with a total value of $108,699.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bob L. Whisnant sold 32,890 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $19.02, for a total value of $625,567.80. Following the transaction, the insider now directly owns 6,046 shares of the company’s stock, valued at approximately $114,994.92. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Headwaters by 82.3% in the first quarter. BlackRock Inc. now owns 5,076 shares of the company’s stock worth $100,000 after buying an additional 2,291 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Headwaters during the second quarter worth approximately $149,000. Fortaleza Asset Management Inc. boosted its stake in shares of Headwaters by 25.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,135 shares of the company’s stock worth $164,000 after buying an additional 1,880 shares during the period. PineBridge Investments L.P. boosted its stake in shares of Headwaters by 3.8% in the second quarter. PineBridge Investments L.P. now owns 9,391 shares of the company’s stock worth $168,000 after buying an additional 347 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of Headwaters by 15.7% in the second quarter. Teacher Retirement System of Texas now owns 10,454 shares of the company’s stock worth $188,000 after buying an additional 1,415 shares during the period. 91.27% of the stock is owned by institutional investors.

A number of analysts have commented on HW shares. Canaccord Genuity reissued a “buy” rating and issued a $23.50 target price on shares of Headwaters in a report on Thursday, August 4th. Zacks Investment Research raised Headwaters from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, July 13th. Jefferies Group started coverage on Headwaters in a report on Tuesday, September 13th. They issued a “buy” rating and a $21.00 target price for the company. CL King lowered Headwaters from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Finally, Deutsche Bank AG lifted their target price on Headwaters from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Headwaters presently has an average rating of “Buy” and an average target price of $22.21.

Headwaters Company Profile

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